ChainSafe Raises $18.8 Million To Accelerate Web3 Adoption

ChainSafe, a blockchain infrastructure business, has raised $18.8 million in a Series A investment headed by Canadian venture capital firm Round13.

According to a corporate announcement, other investors in the round include ConsenSys, HashKey Capital, NGC Ventures, and Digital Finance.

Aidman Hyman and Hatcher Lipton co-founded ChainSafe in 2017 during an Ethereum event in Toronto when the blockchain industry was still in its infancy and desperately needed stronger developer tools.

Since its Ethereum days, the five-year-old firm has matured into a full-fledged multi-chain research and development studio specializing in developer tooling.

The majority of ChainSafe’s projects span numerous chains. Web3.untity, a software development kit (SDK) for integrating Unity games to blockchain technology, and cross-chain bridging solutions are two recent developments.

However, it is most likely well-known for its position in the Ethereum ecosystem. Lodestar, a consensus client for implementing Ethereum’s proof-of-stake mechanism, is one of the company’s initiatives, and it played an important part in The Merge.

When developing developer tools for blockchain technology, Hyman says the team adopts a technical objectivity approach. They chose to build on the technology they believe will be there in 20, 50, or even 100 years. Hyman said:

“One of the things that’s really important for us is to never forget that we come from the open-source movement and that the primitives that we are creating are aimed to be primitives for a future digital world.”

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